Circular No: 161/17/2021-GST
- ITC available for Debit Notes
It has been clarified that the Debit notes issued after 01 January 2021 would be de-linked from their invoice date and its ITC is available for the next financial year September return due date.
For example Debit note date: 07 July 2021.
Original invoice date: 16 March 2021.
In this case, the debit note is issued after 01 January 2021 so the taxpayer can claim its ITC before the end of next financial year (2022-23) September return due date (20 October 2022).
- Refund on the export of nil-rated goods.
It has been clarified that there will be a prohibition on availment of refund of accumulated ITC on the export of nil-rated goods.